FinWise Chairman, Russell F. Healey, Jr. Announces Retirement

Rhea-AI Summary

FinWise Bancorp announced the retirement of Chairman Russell “Fred” Healey, Jr. effective October 6, 2022, after nearly 20 years with the bank. Kent Landvatter, the current CEO and President, will assume the chairman role. Mr. Healey's significant contributions to the bank over his 12-year tenure as Chairman were noted, including his extensive experience in finance and real estate management. FinWise Bancorp, based in Murray, Utah, operates through its wholly-owned subsidiary FinWise Bank, which serves consumers and small businesses nationally.

Positive

• Kent Landvatter's appointment as Chairman may provide continuity in leadership.

Negative

• The retirement of a long-serving Chairman could lead to uncertainty during the transition period.
• Potential gaps in leadership experience could arise as the new Chairman adjusts to the role.

MURRAY, Utah, Oct. 13, 2022 (GLOBE NEWSWIRE) -- FinWise Bancorp and FinWise Bank (“FinWise”) announced today the retirement of Chairman of the Board of Directors, Russell “Fred” Healey, Jr. effective as of 10/6/22. Mr. Healey steps down after nearly two decades of service to the bank, and 12 years as Chairman. Kent Landvatter, CEO and President, has been named as Chairman of both FinWise Bancorp and FinWise Bank.

“Fred’s knowledge and experience in banking, finance and general business strengthened our board of directors’ collective qualifications, skills and experience and his leadership and impact on the bank have been immeasurable – he will be missed,” said Kent Landvatter, CEO of FinWise Bank. “On a personal note, one of the most satisfying and rewarding aspects of my own career has been the opportunity to work with Fred as a colleague, a partner and mentor.”

Mr. Healey was appointed to the FinWise board of directors in April 2003 and has served as the Chairman of the board of directors since October 2010. Mr. Healey served from April 1993 to September 2010 as the Chief Financial Officer and Chief Operating Officer of Feature Films for Families and is the sole owner and operator of The Healey Company which manages over $100 million in real estate assets. He also served as the director of real estate and development of the Challenger School Foundation. During that time, he supervised the construction of over $60 million in buildings and remodeling projects. Mr. Healey received his Master of Finance summa cum laude from the University of Utah in 1980.

About FinWise Bancorp
FinWise Bancorp is a Utah bank holding company headquartered in Murray, Utah. FinWise operates through its wholly-owned subsidiary, FinWise Bank, a Utah state-chartered non-member bank. FinWise currently operates one full-service banking location in Sandy, Utah. FinWise is a nationwide lender to and takes deposits from consumers and small businesses. Learn more at www.finwisebancorp.com.

Contacts:
investors@finwisebank.com
media@finwisebank.com

FAQ

Who is the new Chairman of FinWise Bancorp?

Kent Landvatter has been appointed as the new Chairman of FinWise Bancorp effective October 6, 2022.

When did Fred Healey retire from FinWise Bancorp?

Fred Healey retired from FinWise Bancorp on October 6, 2022.

What positions did Fred Healey hold at FinWise?

Fred Healey served as a board member since April 2003 and as Chairman since October 2010.

What is FinWise Bancorp's primary business?

FinWise Bancorp primarily operates through FinWise Bank, serving consumers and small businesses as a nationwide lender.